On Wednesday, US crude oil surged approximately 3%, narrowing the price difference with the global benchmark Brent. This was a response to the supply cuts announced by Saudi Arabia and Russia on Monday. Saudi Arabia, the largest crude exporter globally, declared an extension of its voluntary output reduction of 1 million barrels per day (bpd) Read More…
Introduction There are a mixed bunch of factors playing into ZB’s price action, which we will look at below. Bulls and bears are fighting, and we can’t be sure which will come out on top. Let’s take a look at some of the technicals that might give us an idea of what looks to be Read More…
Technical recap It has now been almost two months since ES broke out of its inverted head and shoulders pattern on the daily chart. Price has surged 8% since then and continues to rise. Volume has decreased and is something bulls should take note of, but there is little to no case for bears. Let’s Read More…
US equities closed the holiday-shortened session on Monday with slight gains, aided by a surge in Tesla stock and the strength of bank shares as the second half of the year began on a subdued note. Tesla’s shares soared by 6.9% after the electric vehicle manufacturer announced a record number of vehicle deliveries during the Read More…
Introduction NQ has been surging for the majority of this year, now up 47% from the lows back in November 2022. Nasdaq is only 7% away from testing all-time highs, so the bull market is in full swing, no matter what the mainstream would like to call it. Technical analysis 100 & 50 MA: The 50 Read More…
On Friday, currency futures rose as the dollar decreased after gaining for two consecutive days. This drop resulted from economic data indicating decreased consumer spending, which raised doubts about the Federal Reserve’s aggressive approach to combating inflation. US PCE price index (Source: Bureau of Economic Analysis) According to the Commerce Department, consumer spending rose slightly Read More…
